Fundamental analysis for precious metals silver - 12/12/2008

12 December 2008 @ 02:51 am EDT

The metal failed to breach the key resistance for the sideways triangle at 10.46 and as a result declined. We expect the pair to reach 9.72 once again as far as it remains below the above mentioned key resistance.

The trading range for today is among the key support at 9.67 and the key resistance at 11.05

 The general trend is to the downside as far as 14.70 remains intact with targets at 8.05 and 7.60

Support10.05 9.93 9.89 9.80 9.72
Resistance10.25 10.34 10.41 10.46 10.55

Recommendation

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